The two-day policy review by RBI's monetary policy committee kicks off later today, although economists expect no change in key interest rates despite low inflation and signs of slowing growth.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,420.85 points, traded at 31,216.92 points (at 12.45 p.m.) - down 92.57 points or 0.30 per cent from its previous close at 31,309.49 points.
It was a record setting spree for the markets early on Tuesday as the NSE Nifty crossed the 9,700-mark for the first time and BSE Sensex shot up by 121 points to hit a fresh all-time high of 31,430.32.
The NSE Nifty rose to a new high of 9,686.55 points and the Sensex that of 31,355.42 points intra-day.
This is published unedited from the IANS feed.
USA stocks closed slightly lower on Monday to snap a two-day winning streak as investors kept an eye on the latest terrorist attack in London over the weekend and the decision by Arab countries to cut diplomatic ties with Qatar.
Claudio Bravo won't return from injury for Chile's Confederations Cup opener
This is the second time Cameroon have competed in the Confederations Cup , while La Roja are making their debut in the tournament. The scoreline could have been worse for Cameroon who had goalkeeper, Fabrice Ondoa to thank for a string of saves.
However, IT stocks bucked the trend with the S&P BSE IT index gaining 2.33 per cent.
Of the 30-share Sensex pack, 15 showed up in the green. Taiwan market dropped by 0.20 per cent.
Indian shares ended at their record highs on Monday, in a session driven by lenders, although gains were subdued ahead of a central bank policy meeting this week.
However, TCS rose by 3.63 per cent followed by Infosys 2 per cent, Wipro 0.91 per cent and Dr Reddy 0.61 per cent. The FMCG and auto sub-indices of National Stock Exchange closed 1.4 and 1.08 per cent lower respectively.
A total of 934 scrips advanced, 748 declined, while 104 remained unchanged and total securities that hit their price bands were 153. The Institute for Supply Management's index on the services sector fell 0.6 points in May, though it remains in solidly positive territory.
Among BSE sectoral indices, IT index was the star-performer and was up 2.07 per cent followed by TECk 1.49 per cent.